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Opiniones

Duane E. Best
★★★★★

5 mayo 2013

The exercises are really very helpful to test one's knowledge and to allow one to construct a personal guide of various concepts for review.

Descripción

By following the same structure as the companion text, this book of exercises and solutions tests your knowledge of Strategic Financial Management. It also develops a number of theoretical concepts outlined in the companion text as a guide to further study.

All the exercises and their solutions are easy to follow. Each chapter begins with a theoretical review of the basic issues to be examined .We then move into the real world of sophisticated, financial analysis. Each chapter also contains commentaries and a summary that provide further insight into current theory and practice, applied to the corporate investment and financial policies of today’s uncertain world.

Contenido

Part One: An Introduction

Finance – An Overview

Introduction

Exercise 1.1: Modern Finance Theory

Exercise 1.2: The Nature and Scope of Financial Strategy

Summary and Conclusions

Part Two: The Investment Decision

Capital Budgeting Under Conditions of Certainty

Introduction

Exercise 2.1: Liquidity, Profitability and Project PV

Exercise 2.2: IRR Inadequacies and the Case for NPV

Summary and Conclusions

Capital Budgeting and the Case for NPV

Introduction

Exercise 3.1: IRR and NPV Maximisation

Exercise 3.2: Relevant Cash Flows, Taxation and Purchasing Power Risk

Summary and Conclusions

The Treatment of Uncertainty

Introduction

Exercise 4.1: Mean-Variance Analyses

Exercise 4.2: Decision Trees and Risk Analyses

Summary and Conclusions

Part Three: The Finance Decision

Equity Valuation the Cost of Capital

Introduction

Exercise 5.1: Dividend Valuation and Capital Cost

Exercise 5.2: Dividend Irrelevancy and Capital Cost

Summary and Conclusions

Debt Valuation and the Cost of Capital

Introduction

Exercise 6.1: Tax-Deductibility of Debt and Issue Costs

Exercise 6.2: Overall Cost (WACC) as a Cut-off Rate

Summary and Conclusions

Debt Valuation and the Cost of Capital

Introduction

Exercise 7.1: Capital Structure, Shareholder Return and Leverage

Exercise 7.2: Capital Structure and the Law of One Price

Summary and Conclusions

Part Four: The Wealth Decision

Shareholder Wealth and Value Added

Introduction

Exercise 8.1: Shareholder Wealth, NPV Maximisation and Value Added

Exercise 8.2: Current Issues and Future Developments

Summary and Conclusions

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